Having to deal increased manganese ore prices, the silico manganese producers have decided to increase offer levels.
Indian producers of Silico Manganese have raised their offer price in line with increased price of Manganese Ore – both imported and domestic. Currently, silico manganese 60-14 is being offered at INR 50,000 MT (Ex-Durgapur) and INR 52,000 (Ex-Raipur). As was expected that Silico Manganese prices could rise further once the Ore procured at cheaper rates are used up totally, offer prices for Silico Manganese are being adjusted higher to counter the rising cost of production.
Silico Manganese Export Prices Increase, Yet to Find Acceptance
Slightly firmer trades in the silico manganese export market showed some buying interest had returned, though sources doubted the longevity of any real uptick as offers from other nations are more competitively priced.
Silico Manganese 60-14 is being offered at USD 760 /MT FOB East-coast India, and 65-16 is being offered at USD 810-820/MT FOB East-coast India
Indian producers of Silico Manganese have raised offers for the overseas market owing to increase in inquiries from South East Asian and European countries. However, it is to be seen whether the uptick in Silico Manganese prices can be sustained.
| Weekly Silico Manganese Prices in INR/MT | ||
| Week | Durgapur | Raipur |
| 28 | 43,750 | 43,500 |
| 29 | 42,750 | 43,000 |
| 30 | 44,000 | 43,750 |
| 31 | 44,000 | 43,500 |
| 32 | 49,000 | 50,000 |
| 33 | 49,500 | 51,000 |
| 34 | 49,000 | 50,500 |
| 35 | 48,000 | 49,000 |
| 36 | 48,000 | 50,000 |
| 37 | 50,000 | 52,000 |
Source: SteelMint Research
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